Vancouver's Largest Real Estate Liquidation
David Reimer's at my office was kind enough to post this all in one information location for the recent Onni/MAC real estate liquidation - thanks David - this answered a lot of my questions & no doubt can cast some light on the issue for others as well.
If you've see this liquidation event being advertised here are the details:
Basically what is happening is the Developer (ONNI) has agreed to sell it's remaining inventory of completed homes(currently 375 available) at a discounted rate. The homes are brand new, fully warranted and located across the lower mainland. The developer agreed to the discount for a number of reasons including the economies of scale for one big bulk purchase and lost pre-sale deposits. Many speculators could not complete their pre-sale purchase and have walked away from their 15% deposits.
Depending on the property discounts are about $100/sqft off current asking prices plus GST.
These are the communities being sold:
http://www.onni.com/communities.html
Click below for a few examples of current asking prices at the various developments. (You can calculate the potential discounts): http://mlslink.mlxchange.com/Pub/EmailView.asp?r=1708810176&s=BRC&t=BRC
If you are interested in joining me on a tour of the various homes available, please give me a call at 604.939.6666.
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